MADRID -THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
Credit rating agency Standard & Poor's says it has downgraded five Spanish banks including troubled Bankia because of uncertainty over restructuring and recapitalization plans.
The agency's decision came on the day when nationalized Bankia, Spain's fourth-largest lender, met Friday to discuss a restructuring plan that will include a request for more state aid.
Standard & Poor's said there was significant uncertainty "including the amount of capital to be provided by the state."
Bankia suspended share trading Friday while its board determined how much new aid it needs.
Spanish newspapers have said the bank could ask for up to (EURO)15 billion ($19 billion).
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